Special Auditor rightly follows SA-505 Prescribed by ICAI and such Report cannot be merely rejected by AO if it is Contrary to Appraisal Report Submitted by Investigation Wing: ITAT [Read Order]

Special Auditor - ITAT - Special Auditor rightly follows SA-505 - ICAI - Appraisal Report - Investigation Wing - taxscan

The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that the special auditor highly followed the procedures prescribed by the Institute of Chartered Accountants of India while auditing ad that the Assessing Officer cannot simply reject or discard the special audit report merely for the reason that the findings in the special audit report…

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